The Brevan Howard Digital branch, based in Abu Dhabi, the cryptographic arm of the Global Investment Management firm, has deployed $ 20 million in Kinto, a blockchain platform designed for institutional participation in decentralized finances (DEFI).
The deposit makes Brevan Howard Digital be one of the first traditional financial firms to take advantage of the Mining Program in the Kinto chain, the protocol said.
Kinto operates as an Ethereum Layer-2 network with incorporated compliance mechanisms, including the Know-Your-Customer (KYC) and anti-launch of money (AML) protocols, which facilitate financial institutions that face strict regulatory requirements to participate in decentralized finance. It also offers an intelligent contract wallet with default insurance and security improvements.
Read more: Blockchain Startup Kinto Plans ‘First Kyc’d’ Ethereum Layer-2 Net
The mining program of the platform, which is executed for a decade, encourages participants by distributing Token rewards to deposit assets in the chain in Kinto. Mining programs have been a basic element in the DEFI sector, but have been largely beyond the reach of traditional financial institutions due to compliance obstacles.
The participation of Brevan Howard Digital points out the growing interest of financial companies in finance based on blockchain, particularly as platforms such as Kinto adapt to meet institutional needs, Ramon Recuero, according to the co -founder and CEO of Kinto. “Institutions have been waiting for two things: regulatory clarity and compliance characteristics. Now, through Kinto, financial institutions do not need to wait any longer, ”he said in a statement.
